MANAGE DAILY EXCHANGE RATES

Use the Manage Daily Exchange Rates screen to maintain currency exchange rates if you track rates on a daily or a weekly basis. This screen is especially useful if you have many different currencies to enter, and is also helpful for maintaining currencies that fluctuate widely.

You can enter daily exchange rates at any time, and the rates can be for one day or a range of days. These rates are the defaults for the Exchange Rates subtask that appears throughout Costpoint.

Location

Rate Group Information

Rate Group

Enter, or click to select, the identifer for the exchange rate group. This rate group was created on the Manage Exchange Rate Groups screen. The rate group description will be displayed in the field to the right. This is a required field.

Rate Source

This field displays the rate source that is currently assigned to this rate group on the Manage Exchange Rate Sources screen.

Starting Date

Enter, or click to select, the beginning date for the rates. This is a required field.

Ending Date

Enter, or click to select, the last date for these currencies and rates. This is an optional field. If you select a date, it is used as the default ending date for the individual exchange rates you enter in the table window.

Table Window

Click on the toolbar to enter a new row.

Ending Date

Enter, or click to select, the last date on which the exchange rate is effective.

Currency From

Enter, or click to select, the code for the currency that will be translated into another currency. Only those combinations of from/to currencies that were defined for this rate group on the Manage Exchange Rate Groups screen are permitted in this table.

Currency To

Enter, or click to select, the code for the currency into which the currency in Currency From will be translated. Only those combinations of from/to currencies that were defined for this rate group on the Manage Exchange Rate Groups screen are permitted in this table.

Rate Amount

Enter the exchange rate to be used for currency conversion. The value in the From currency is multiplied by this rate to calculate the equivalent value in the To currency.

Notes

You can enter a note for the exchange rate.

Currency From Name

This field displays the formal name for the From currency.

Currency To Name

This field displays the formal name for the To currency.

Add Inverse Line

To create a row for the reverse of a currency conversion, select the existing row in the table window and click the Add Inverse Line button. When you do this, Costpoint creates a new row in the table window with the currencies in Currency From and Currency To reversed. (You can also do this when you click on the Costpoint toolbar.)